Close Brothers Group (LON:CBG) Shares Down 21.6% – Here’s Why

Close Brothers Group plc (LON:CBG) shares were down 21.6% on Tuesday . The company traded as low as GBX 258.20 ($3.36) and last traded at GBX 270.80 ($3.52). Approximately 7,777,821 shares traded hands during trading, an increase of 213% from the average daily volume of 2,483,804 shares. The stock had previously closed at GBX 345.40 ($4.49).

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Close Brothers Group from GBX 610 ($7.94) to GBX 600 ($7.81) and set a “hold” rating for the company in a research note on Thursday, February 13th. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a research note on Tuesday.

Close Brothers Group Trading Down 0.1 %

The stock has a market capitalization of £428.78 million, a PE ratio of 4.29, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The firm has a 50 day moving average price of GBX 307.19 and a 200 day moving average price of GBX 313.28.

Close Brothers Group (LON:CBG) last issued its earnings results on Tuesday, March 18th. The company reported GBX 30.90 ($0.40) earnings per share for the quarter. Close Brothers Group had a net margin of 7.79% and a return on equity of 5.78%. On average, equities research analysts expect that Close Brothers Group plc will post 66.0070671 EPS for the current year.

About Close Brothers Group

Close Brothers Group plc, a merchant banking company, engages in the provision of financial services to small businesses and individuals in the United Kingdom. It operates through five segments: Commercial, Retail, Property, Asset Management, and Securities. The company offers banking services comprising of debt factoring, invoice discounting, asset-based lending; financing for SMEs, residential housing, transport, industrial equipment, renewable energy, motorcycle, used car, and commercial vehicle financing; insurance, refurbishment, and bridging financing, savings products for individuals and corporates, hire purchase, lease, and loan related services.